Kinectify secures fresh funding from Aristocrat
AML platform supplier to push capital into tech and product development as former Aristocrat head Jason Walbridge added to the board
Compliance software provider Kinectify has secured an incremental investment led by ASX-listed Aristocrat as the firm targets further growth.
The raise also saw capital pledged from existing investors including Acies Investments, the Eastern Band of Cherokee Indians, Eilers & Krejcik Gaming and former Caesars CEO Mark Frissora.
Kinectify said the funds would be used to “further accelerate innovation and drive the rollout of modern technology”.
Alongside Aristocrat plunging funds into the North America-facing business, the group has added industry veteran Jason Walbridge to the Kinectify board to represent its interests.
Walbridge has served in an advisory capacity to Aristocrat since 2022, with a focus on developing the firm’s online real-money gaming business, Anaxi.
He previously spent 18 years with Aristocrat, eventually becoming chief supply officer for the company in July 2011, before departing in October 2015.
He also served as COO of NYX Gaming and became COO of SG Digital following Scientific Games’ (now Light & Wonder) acquisition of the company. Walbridge departed SG Digital in November 2018.
This latest funding round follows 2022’s preferred seed round for Kinectify.
At the time, Acies Investments, Eilers & Krejcik Gaming and the Eastern Band of Cherokee Indians were involved in the raise.
The business was founded in 2020 and is led by Joseph Martin as CEO.
Commenting on the investment and his addition to the board, Walbridge said: “I am thrilled to work with Kinectify to pioneer innovation in risk management across the gaming ecosystem.
“I’ve been impressed by Kinectify’s track record so far with its AML and responsible gaming technology, and I’m excited to facilitate deeper collaboration between our companies,” he added.
Arnold Ash is EGR’s Executive Recruitment Partner. They support ambitious organisations to identify and attract industry leading executive talent. Find out more here.